Bitcoin (BTC) Analyst Predicts One More Dip Before Next Bull Market
A prominent cryptocurrency analyst, Benjamin Cowen, believes that Bitcoin (BTC) will experience one more whole lot of decline before entering a new bull market. Cowen, who has a large following on YouTube, describes that the timing of the dip will determine whether it forms a double bottom pattern, a lower low, or a higher low.
Cowen utilizes logarithmic progressions to forecast the price of Bitcoin over time. He points out during each bear market, the price tends to bottom out one band lower than the previous cycle. This pattern emerges due to the assumption that exponential gains are more likely to occur in the early stages of an asset’s history.
Currently, Bitcoin (BTC) is currently worth $25,868, showing a slight increase in the past 24 hours.
Hot Take
According to analyst Benjamin Cowen, Bitcoin (BTC) is very likely experience one more whole lot of dip before entering a new bull market. This prediction is based on logarithmic progressions and historical patterns observed during previous bear markets. Cowen implies that the timing of the dip will determine its form, whether it be a double bottom pattern, a lower low, or a higher low. Regardless of the capacity dip, Bitcoin (BTC) is as of now currently worth $25,868, indicating a small increase in value. Investors should keep a close eye on the market to see if Cowen’s prediction holds true.
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